International Money Transfer Limits: Complete Guide 2025

Sending money overseas is something many of us need to do frequently.

But is there a limit to how much you can send overseas? How does it work if you need to send a high value payment, or if you need to frequently make overseas transfers?

This guide shows you everything you need to know about the maximum amounts for international money transfer imposed by the most used banks in India, how you can increase those limits, and some providers that offer more convenient and cheaper ways to send large amounts of money abroad, like Wise.

Quick summary: International money transfer limits

Here are most frequently asked questions about wire transfer limits:

*Details correct at time of writing – 27th January 2025

Which providers have the highest limits to transfer money abroad?

Let’s get right into the important stuff, with an overview of the international money transfer limits for some of the biggest Indian banks, and a specialist provider, Wise . We’ll look at your options for sending high value payments overseas – including some smart ways to cut your costs and get a better exchange rate – in just a moment.

*Details correct at time of writing – 27th January 2025

As you can see, Indian banks may have lower limits on the amount of money you can send online or in the bank’s mobile app compared to a provider like Wise. For higher value transfers you may be asked to visit a branch. While that can give you peace of mind when sending a high value transfer, it also usually means far higher fees and a more complicated transfer process.

How much money can you transfer internationally?

The Reserve Bank of India (RBI) allows Indian citizens to make international transfers of up to 250,000 USD per financial year. However, non-resident Indians can transfer up to 1 million USD, per financial year without any upper transaction limits at some banks, like ICICI Bank.

However, the amount you send within these limits will depend on your provider and the destination and financial institutions, and money transfer providers often impose their own daily transaction limits, which can vary significantly.

Some providers may have a limit of 25,000 USD per day, while others may have no set limit at all.

The different types of international transfers and sending limits

So what makes the difference to the amount of money you can send – either with your bank or a specialist provider? In some cases, the destination and the way you’re setting up your transfer matter. Other factors can include the type of account you hold – personal or business, standard or premier, for example. Finally, the type of payment you’re making can also mean differing limits. Here’s a look at some of the typical limits you’ll run into when making an international money transfer from India.

International wire transfer (SWIFT) limits – online

When you send a high value payment overseas, the bank or provider which processes the transfer is obliged to check that the payment is legal and fulfills financial legislation requirements both in India and in the destination country. That may mean checking the source of funds or getting more details about the reason for the transfer.

Banks may not be as well set up to handle high value transfers – with the added paperwork and process requirements – online. As such, the limits for sending an international wire online with a bank can seem pretty low. Instead, to send a high value transfer you may be asked to visit a branch – which is more hassle, and can come with higher fees.

Online specialist services tend to be better placed to verify payments and go through compliance checks digitally, allowing them to offer higher value transfers online. That can mean higher limits, and a more streamlined service when sending higher value transfers.

Here’s a rundown of the online limits from the banks and the provider we looked at earlier:

• HDFC transfer limits: 25,000 USD or equivalent per transaction

• ICICI transfer limits: Online INR 20 lakh daily limit and a INR 1 crore monthly limit

• SBI transfer limits: Online 25,000 USD or equivalent per transaction/ per day and an in branch limit of 2,50,000 USD or equivalent per transaction/per day

• Wise transfer limits: 100 million INR per transfer to a private individual and 1.5 million INR per working day to business recipients.

In branch SWIFT transfer limits

If you’re sending your SWIFT or wire transfer in a branch you might find there’s a far higher limit compared to making your transfer online. The exact options open to you will depend on the specific bank and the account type you hold.

However, one downside to this is that heading to a bank is more time consuming than setting up a payment online – and often can mean higher transfer fees, too. That’s simply because it takes more time for the in-branch service team to handle your request – which means more costs which they often pass on to the customer through higher fees.

Specialist services like Wise have no branches, but do offer high value – or even unlimited – payments online and in-app, with all legal processes and verification checks carried out digitally.

What is the limit of international money transfer to India?

There is no specific limit on the amount of money that can be transferred to India for personal purposes, such as family support, education, or gifts. However, when you use the Money Transfer Service Scheme (MTSS), individual transfers are capped at USD 2,500 per transaction, with a maximum of 30 transactions per year. Businesses have a limit of up to Rs 15 lakh.

International money transfer limits from abroad to India

*Details correct at time of writing – 27th January 2025

Best ways to transfer large sums of money abroad

If you’re sending a high value international transfer you may be wondering how to make sure your payment goes through smoothly. Here are a few things to do in advance to make sure your payment is hassle free:

• Check your own bank’s payment limits, which can vary depending on how you set up your transfer

• Ask your bank, or the provider you’re using, if any verification checks are required to process your payment – you may need proof of the source of funds, for example

• Make sure your provider account is fully verified, by providing all required ID documents before you start to make your transfer

• Double check you have all the details needed for your recipient, including their full name, bank account number, and any country specific information for transfers to India

Before you set up your international payment with your regular bank, have a look to see if a specialist service can help with an easier online experience and lower overall costs.

Wise offers high limits of up to 100 million INR for personal account holders, depending on how you want to pay, plus volume discounts on fees, for high value and frequent transfers.

How to increase the limit of your international transfers

Need to send a higher value transfer? Usually you’ll find you have a few options.

• Some banks allow you to increase your transfer limit for online payments by visiting a branch – SBI is one example

• You can often send more with a bank by arranging your transfer in a branch, although this may mean a higher fee compared to their online service

• If you have a specific need to make a high value payment – buying a house for example – your bank may be able to support you on a case by case basis – ask directly to see if they can help

• Some online providers like Wise offer multi-currency accounts, which allow you to send international payments easily – and often with higher limits compared to other transfer types

Providers like Wise usually offer transparent pricing and rate conversion when sending money overseas. Also, in many cases, transfer limits are displayed more clearly than with many banks.

Maximum money transfer limits without taxes applied

While there’s no outright limit on the amount of money you can transfer, certain thresholds trigger taxes or additional requirements, depending on the purpose and amount.

For example, if you’re sending money abroad for education, transfers up to 7 lakh in a financial year are exempt from Tax Collected at Source (TCS). Above this amount, a TCS rate of 0.5% applies if the funds are sent via an education loan. Without a loan, the TCS rate increases to 5%. Similarly, medical expense remittances are also exempt up to 7 lakh, with a 0.5% TCS rate for higher amounts.

For other transfers, such as gifts or general remittances, TCS applies to amounts exceeding 7 lakh at a rate of 5%. If you’re unable to provide a PAN card, the rate increases to 10%.

When it comes to receiving gifts, transfers of up to 50,000 per year are tax-free if the recipient isn’t a family member. However, anything above this amount will be added to the recipient’s taxable income.

Additionally, non-Resident Indians (NRIs) can remit up to $1 million from India in a financial year without paying taxes, provided the money comes from income sources like salary, rent, or dividends in their NRO account. Larger sums or other transactions may need approval from the Reserve Bank of India (RBI).

International wire transfer regulations

International wire transfer regulations are put in place to ensure that transactions are lawful, preventing fraud, money laundering, and the funding of illegal activities. To verify if a money transfer provider is regulated, look for authorization by the relevant country’s regulatory body, which you can usually find on their website.

Regulations may require documentation, such as proof of identity, the source of your funds, and the purpose of the transfer, and high-value transfers usually demand more rigorous checks. These rules vary by country but generally include verification of payment purpose, sender-receiver relationship, and the source of funds.

Regulations to send international transfers from India

When you’re sending money out of India, it’s important to note that under the Liberalised Remittance Scheme (LRS), Indian residents can remit up to USD 250,000 per financial year for approved purposes like education, travel, maintenance of relatives, overseas investments, and gifting.

It is possible to transfer more than 250,000 USD per year, but you will need prior permission from the RBI. Instances include if it's required by the country of emigration, university or the medical institute offering treatment, but is subject to certain conditions.

Rules for receiving money from overseas

When receiving money from overseas in India, regulations are set and governed by the RBI. Personal transfers can be made without a cap through the Rupee Drawing Arrangement (RDA), while the Money Transfer Service Scheme (MTSS) allows a maximum of USD 2,500 per transaction and 30 transfers per year per recipient. For commercial remittances, the limit is 15 lakh under the RDA and recipients must have an NRE account to receive foreign earnings tax-free.

Additionally, you’ll want to make sure that your funds are transferred through regulated financial institutions to avoid any legal issues and keep your money safe. Proper documentation, including proof of the transfer’s purpose and source, may also be required.

How much money can NRI transfer to India without tax?

Non-Resident Indians (NRIs) can transfer money to India without paying taxes as long as the funds are sent to family members or for personal purposes, such as maintenance or gifting. These transfers are generally not taxable for the recipient unless the amount exceeds 50,000 INR per year for non-family members, in which case it is considered taxable income. Transfers into an NRE account, designed primarily for those who earn money outside of India, are tax-free, including both balance and interest.

How much money can NRI transfer to India in one year?

NRIs can transfer any amount to India in a year, as there is no upper limit on inward remittances for personal purposes, but certain limits may apply for specific accounts. For larger transfers, NRIs typically use NRE or NRO accounts, which are governed by RBI regulations.

Conclusion: Is there a limit on international money transfers?

Indian residents can remit up to USD 250,000 per financial year for approved purposes like education, travel, maintenance of relatives, overseas investments, and gifting.

Banks and providers also set their own limits which vary based on where you’re sending money to and how you want to set up your international transfer.

Online payment limits with banks can vary, from 25,000 USD for HDFC and SBI for example. However, you can usually send more by visiting a branch – like 2,50,000 USD or equivalent per transaction/per day at SBI – and paying a higher fee.

Specialist online services can often offer higher value online transfers, which come with transparent fees and fairly low overall costs compared to banks.

Wise, for example, has payment limits ranging from 100 million INR per transfer to a private individual and 1.5 million INR per working day to business recipients. Check out the options for a few specialist services before you make your international transfer, to see if you can get a lower fee and an easier end to end payment process.

International money transfer limits FAQs

Which bank has the highest limits to transfer money abroad?

Most banks have lower limits when sending payments online, but can offer higher value transfers in a branch. The downside is that this may mean higher fees. As an alternative check out Wise for payments up to 100 million INR per transfer to a private individual and 1.5 million INR per working day to business recipients when you pay by wire.

What is the limit for international wire transfers?

In India, there is no specific limit for receiving international wire transfers for personal purposes, such as family maintenance, education, medical expenses, or gifts. When it comes to sending international wire transfers, Indian residents can send up to 250,000 USD per financial year. However banks and specialist services have their own limits – and some currencies also have legal limits set by local laws in the destination country. Check with your bank or preferred provider to see the limits applied to your specific transfer.

What is the maximum transfer limit per day?

Maximum transfer limits vary widely between banks and providers, and may include daily, monthly or 6 monthly limits. Check in your online banking service, or in the provider’s app, to see the limits which apply to your specific account.

How can I increase my bank transfer limit?

You’ll usually be able to view your bank transfer limit in your online banking service, and raise it by calling or visiting the bank in person.